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23 Jan 2026 www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. Company Presentation
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Forward-looking StatementThiscompanypresentationincludesforward-lookingstatementswhicharenothistoricalfactsbutstatementsregardingfutureexpectationsinstead.Theseforward-lookingstatementsincludewithoutlimitation,thoseregardingHerantis’futurefinancialpositionandresultsofoperations,thecompany’sstrategy,objectives,futuredevelopmentsinthemarketsinwhichthecompanyparticipatesorisseekingtoparticipateoranticipatedregulatorychangesinthemarketsinwhichthecompanyoperatesorintendstooperate.Insomecases,forward-lookingstatementscanbeidentifiedbyterminologysuchas“aim,”“anticipate,”“believe,”“continue,”“could,”“estimate,”“expect,”“forecast,”“guidance,”“intend,”“may,”“plan,”“potential,”“predict,”“projected,”“should”or“will”orthenegativeofsuchtermsorothercomparableterminology.Bytheirnature,forward-lookingstatementsinvolveknownandunknownrisks,uncertaintiesandotherfactorsbecausetheyrelatetoeventsanddependoncircumstancesthatmayormaynotoccurinthefuture.Forward-lookingstatementsarenotguaranteesoffutureperformanceandarebasedonnumerousassumptions.Thecompany’sactualresultsofoperations,includingthecompany’sfinancialconditionandliquidityandthedevelopmentoftheindustryinwhichthecompanyoperates,maydiffermateriallyfrom(andbemorenegativethan)thosemadein,orsuggestedby,theforward-lookingstatementscontainedinthiscompanyrelease.Factors,includingrisksanduncertaintiesthatcouldcausethesedifferencesinclude,butarenotlimitedtorisksassociatedwithimplementationofHerantis’strategy,risksanduncertaintiesassociatedwiththedevelopmentand/orapprovalofHerantis’drugcandidates,ongoingandfutureclinicaltrialsandexpectedtrialresults,theabilitytocommercializedrugcandidates,technologychangesandnewproductsinHerantis’potentialmarketandindustry,Herantis’freedomtooperateinrespectoftheproductsitdevelops(whichfreedommaybelimited,e.g.,bycompetitors’patents),theabilitytodevelopnewproductsandenhanceexistingproducts,theimpactofcompetition,changesingeneraleconomyandindustryconditions,andlegislative,regulatoryandpoliticalfactors.Inaddition,evenifHerantis’historicalresultsofoperations,includingthecompany’sfinancialconditionandliquidityandthedevelopmentoftheindustryinwhichthecompanyoperates,areconsistentwiththeforward-lookingstatementscontainedinthiscompanyrelease,thoseresultsordevelopmentsmaynotbeindicativeofresultsordevelopmentsinsubsequentperiods. 2www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved.
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© 2014-2026 HERANTIS PHARMA Plc. All rights reserved. Clinical-stage public company developing neurorestorative therapies to stop Parkinson’s disease progressionLead asset HER-096: •Small peptidemimicsactivesiteof CDNF protein•Protectsdopamineneuronsfromfurtherdegenerationand supportstheirfunctionalrestoration•EfficientbrainpenetrationenablingadministrationundertheskinHER-096 Phase 1 data de-risk the path to clinical efficacy•Solid safety data: PD patients, healthy volunteers•Efficient brain penetration: PD patients, healthy volunteers•Proof of biology: human biomarker responses to HER-096 are consistent with expectations Next:•Strategic partnership/ securingresources•Phase2 efficacytrial 3 . HerantisPharma –SummaryNasdaq First North Helsinki: HRTIS
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Phase 1b Biomarker Data: De-Risking the Path to Clinical Efficacy 4www.herantis.com §Proof of biology: clear evidence of biological response to HER-096 in Parkinson’s patients§A key development milestone demonstrating preclinical-to-clinical translatability§A key catalyst for strategic partnering and investment discussions Preclinical dataPhase 1b (Parkinson’s patients)Safety and tolerabilityDemonstratedDemonstratedBiologicalresponseDemonstratedDemonstratedEffects on target pathwaysDemonstratedDemonstratedTranslational biomarker profileEstablishedConfirmedEffect on symptomsDemonstratedTo be evaluated in Phase 2 ✅ ✅ ✅ ✅ ✅ ✅ ✅ ✅ ✅
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HER-096 is an Ideal Drug Candidate for Parkinson’s Disease §Synthetic peptidomimetic molecule§Designed based on the active site of CDNF protein§Unique and broad Mechanism of Action: Modulation of Unfolded Protein Response (UPR) pathway to reduce cell stress to slow down or stop neurodegeneration§Penetrates blood-brain barrier in humans HER-096 Multi-billion market opportunity§10 million patients globally§Current Parkinson’s disease pharmaceuticals market size $5B§Market 2029: $11B, growth driven by disease-modifying treatments (source: GlobalData) HER-096 & Parkinson’s disease treatment §Symptomatic improvement §Long-term effect with disease modification: slow down or stop the process of midbrain neuron degeneration at the early stage of the disease§Subcutaneous administration 1 –3 times per week§Differentiated mechanism with potential opportunities in combination with current assets in development HER-096 ACTIVESITEOPTIMIZATION CDNF PROTEIN Significant opportunities in CNS disorders beyond Parkinson’s disease Therapeutic opportunityRestore proteostasis, promote functional recovery, enhance survival Pathology . . . Response . . . . . Cellular dysfuntion . . . . . Consequence . . . . . Therapeutic aim . . . Neurodegeneration Synaptic dysfunction, death of dopamine neurons, loss of dopamine, motor symptoms Disrupted proteostasis C h ronic maladaptive Unfolded Protein Response (UPR) signaling Chronic ER Stress & Neuroinflammation Protein misfolding burden www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. 5
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IRE1 PERK ATF6 GRP78 GRP78 GRP78 Unfolded Protein Response (UPR) Pathway Signalingand CDNF HER-096 Mimics CDNF’s Neuroprotective Activity via Interaction with GRP78GRP78 Serves as the Master Regulator of the Unfolded Protein Response (UPR) Pathway 6www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. HER-096 mimics CDNF’s effects on the UPR system but has significant additional benefits:§Blood-brain barrier penetration allows subcutaneous administration§Fully synthetic molecule; enhanced metabolic stability CDNF dosing Pathological ER stress Homeostatic ER stress Graewertet al. Nat. Comm. 15: 8175, 2024 (Link to full text) CDNF GRP78 Active site of CDNF (pink residue is the structural equivalent of HER-096) CDNF CDNF CDNF The Unfolded Protein Response (UPR) is a central regulatory mechanism within the proteostasisnetwork that senses endoplasmic reticulum (ER) protein misfolding and orchestrates adaptive responses to restore protein homeostasis. In normally functioning cells, the UPR acts as a homeostatic mechanism: it is activated in response to the accumulation of misfolded proteins in the ER and is downregulated once the imbalance is resolved. In contrast,pathological ER stress—such as that observed in Parkinson’s disease—is harmful and can ultimately lead to cell death. CDNF’s physiological role is to modulate the UPR to prevent pathological (maladaptive) ER stress and restore the UPR to its normal homeostatic function. HER-096 is designed based on the CDNF / GRP78 binding interface
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a - synuclein aggregation promotes chronic ER stress a - synuclein aggregation promotes neuroinflammation Chronic ER stress promotes neuroinflammationThe target of HER-096 Parkinson’s disease: A Vicious Cycle Drives the Disease PathologyAccumulation of Toxic α-Synuclein Aggregates, Chronic ER Stress and Neuroinflammation 7www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. Glial cells: Chronic ER stress and maladaptive UPR signaling drive neuroinflammation and loss of neuronal support, contributing to progressive dopaminergic neurodegeneration. Parkinson’s disease is driven by proteostasis failure, where impaired protein quality control leads to toxic α-synuclein aggregation that progressively overwhelms neuronal and glial cell homeostasis. In Parkinson’s disease, unresolved ER stress locks the UPR into a chronic, maladaptive statethat suppresses neuronal maintenance, drives inflammation, and accelerates dysfunction and degeneration of dopamine neurons.
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a-synuclein aggregation promotes chronic ER stress Preclinical Studies: HER-096 Modulation of UPR Showed Broad Effects on Neuronal FunctionalityRestorative Effects on Neuronal Proteostasisand Mitochondrial Function 8www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. HER-096 DOSING + Preclinical studies have shown that in addition to the proteostasis effects, HER-096 has effects that support mitochondrial healthy and function. Mitochondrial dysfunction plays an important role in Parkinson’s disease. The target of HER-096
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Drug Exposure Hours •Plasma half-life ~2 hours•No direct target engagement biomarker Hit-and-Run Mechanism of Action with Sustained Biological EffectsHER-096 and CDNF Preclinical Studies Have Consistently Demonstrated Long-term Treatment Effects 10www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. Cellular Response Mechanism •Pathway activation and synthesis of effector proteins•Proteostasis-driven functional recovery•Modified inflammatory response Sustained Biological Effect Days •Effect duration governed by effector protein lifetimes•Average half-life of a protein is several days Intermittent dosing regimen is fit-for-purpose for the current and planned clinical studies, well aligned with previous preclinical data and the new clinical biomarker data.
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ClinicalHER-096 Phase 1 Program in Completed www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. 11 Single Ascending Dose HER-096 (10 –300 mg)Safety and PK, including CSF T½in elderly HV N = 60 N = 48 young HVs (2+6 placebo/active per dose level)Dose levels: 10 –300 mg (6 dose levels)N = 12 elderly HVsDose: 200 mgCSF sampling: 2 –12 h (one sample per subject) PHASE 1A STUDY Objectives:§Safety and tolerability of single dose in healthy subjects§Pharmacokinetics in young and elderly healthy subjects, including blood-brain barrier (BBB) penetration in elderly§Exploratory biomarker analysisClinicalTrials.gov: NCT05915247 Objectives:§Safety and tolerability of repeated doses of HER-096 in PD patients§Pharmacokinetics of repeated dosing + extended single-dose pharmacokinetics in CSF (to support Phase 2 preparation)§Exploratory biomarker analyses with focus on assessment of biological response to treatment N = 8Dose: 300 mgCSF sampling: 8 –30 h(one sample per subject) N = 8 N = 16 active + 8 placeboDoses: 200 or 300 mg 2 x week, for 4 weeks(+ 4-week safetyfollow-upafterthelastdose)CSF sampling: baseline & after the last dose Single Dose HER-096 CSF T½in elderly HVMultiple Doses (200 or 300 mg)Safety, PK & biomarkers in PD patientsPHASE 1B STUDY N = 24 ClinicalTrials.gov: NCT06659562; EUCT: 2024-512532-30-00
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ClinicalParkinson’s Disease Status at Screening (Phase 1b Study)Placebo (n=8)200 mg HER-096 (n=8)300 mg HER-096 (n=8)Modified Hoehn & Yahr scaleStage 1 –1.55 (62.5%)7 (87.5%)4 (50.0%)Stage 2 –2.5 3 (37.5%)1 (12.5%)4 (50.0%)UPDRS (Part III, motor) Mean ±SD19.4 ±12.525.1 ±9.026.4 ±8.6Range (min –max)5.0 –43.011.0 –39.013.0 –43.0Time from diagnosis Mean ±SD(years)4.6 ±3.15.0 ±4.54.0 ±3.5Time from first symptomsMean ±SD(years)11.3 ±16.06.6 ±4.65.6 ±4.1Dopaminergic deficit (DAT-SPECT)8 / 8 (100%)8 / 8 (100%)8 / 8 (100%)Positive for a-synuclein seeding8 / 8 (100%)8 / 8 (100%)6 / 8 (75 %)Subjects with PD genetic findings* 4 / 8 (50 %)2 / 7 (28.5 %)0 / 8 (0 %) www.herantis.com 12 * Centogene panel of 115 Parkinson’s disease genes
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ClinicalPhase 1 Program Shows a Clean Safety Profile With No Dose-limiting Safety Signals§Low incidence of systemic adverse events§Most reported adverse events were related to the injection site, and were mild and transient•Injection-site reactions were self-limiting and did not require treatment modification or discontinuation§Favorablesafety profile observed across all tested dose levels, including highest planned clinical exposure§No unexpected clinical toxicities beyond those predicted by GLP 28-day and 6-month preclinical toxicology studies www.herantis.com 13 Phase 1aPhase 1bNotesSevere TEAEs0 0Serious Adverse Events (SAE)0 1Placebo subject with a bladder neoplasmDose Limiting Toxicities 0 0Maximum Tolerated Dose Not reachedNot reached
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ClinicalCerebrospinal Fluid PK Data Confirms CNS Exposure in Humans §CSF sampling at 8 h after last dose§CSF levels well-correlated with plasma exposure§CSF levels reached by both 200 and 300 mg doses match to the CSF levels reached by pharmacologically active dose levels in preclinical models www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. 14 Mean CSF levels in PD Patients200 mg80.8 ±20.7 ng/ml (range: 49.5 –107.0)300 mg143.1 ±41.1 ng/ml(range: 96.7 –213.0) Healthy Subjects (Phase 1a & 1b data) 0 50 100 150 200 250 HER-096 (ng/ml) 200 mg 300 mg Parkinson’s Patients (Phase 1b data) 0 6 12 18 24 30 36 0.0 0.2 0.4 0.6 0.8 Time (h) HER-096 in CSF (normalized to dose) CSF levels (normalized to dose) Phase 1a Phase 1b CSF Tmax §One patient –one CSF sampling timepoint (lumbar puncture)§Dose level: 200 mg in Phase 1a (red dots), 300 mg in Phase 1b (blue dots)§Data normalized to dose§Predicted elimination of HER-096 from CNS by ~48 h supports dosing twice weekly
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Phase 1b Biomarker data Biomarker domain / assayAnalytesMatricesTimepointsSubjectsTotalCytokines5 2 6 | 2241 440NULISA (targeted protein assay)1002 5 | 2249 600MitoDNA lesions1 1 2 2496Mitochondrial metabolites6 1 2 24288SomaLogic proteomics11 0002 6 | 2242 112 000Mass spec proteomics2 1141 2 24101 472NeuroSPARC (neuronal EVs)1 1 3 2472EV mass spec proteomics27001 3 24194 400Metabolomics1 4002 2 | 224134 400TOTAL 2 553 768 Deep Biomarker Profiling with over 2.5 Million Data Points Generated 15www.herantis.com ScreeningFirst dosing Last dosingEnd of follow-up Short-term response0, 8 and 24 h0, 6/8 and 24 hLong-term response HER-096 dosing Biomarker data shown in this presentation compares the changes observed in the pre-dose sample of the last dosing visit to the pre-dose sample of the first dosing visit (baseline) in 24 patients with Parkinson’s who received either placebo, 200 mg, or 300 mg of HER-096 for 4 weeks UNTARGETED TARGETED
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Example of Biomarker data: Plasma Proteomics –Systemic Biological Response to HER-096Aptamer-based Proteomics Used for Longitudinal Monitoring of 11 000 Plasma Proteins 16www.herantis.com Low expressionHigh expression Placebo200 mg HER-096300 mg HER-096 Changes from mean expression in individual subjects in driver protein overrepresentation analysis –Upregulated driver proteins Data interpretation: HER-096 dosing induces broad proteomic changes in plasma at Week 4 (graph shows the approximately 350 proteins with strongest changes: see details in next slide) Column: one proteinRow: one subject Heatmap key
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Example of biomarker data: HER-096 Broadly Modulates Proteostasis-Regulating Proteins in PlasmaAptamer-based Proteomics: Overrepresentation Analysis of HER-096 Effect vs Placebo Over 28 days 17www.herantis.com Group level changes in 262 proteostasis-related proteins shown, * p < 0.05 Placebo200 mg HER-096300 mg HER-096 Proteostasis: Group Level Comparison Protein synthesis AutophagyUbiquitin-proteasome ERAD Protein folding UPR Low expressionHigh expression CategoryNumber of Gene Ontology termsAdjusted p-valueProteostasis18 0.0002Endolysosomaltrafficking12 0.0000004RNA processing8 0.004Autophagy5 0.0004 Overrepresentation Analysis (ORA): All HER-096 vs Placebo Last dose vs first dose (pre-dose samples), comparison all subjects receiving HER-096 to placebo group, overrepresentation analysis àsemantic Gene Ontology term clustering Data interpretation: Plasma proteomics reveals broad and coordinated modulation of multiple proteostasisdomains following HER-096 treatment, supporting biologically meaningful engagement of proteostasispathways in line with the drug’s proposed mechanism-of-action
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Summary of Biomarker Responses to HER-096 Dosing in Humans:Multiple Data Layers Show Concordant Shifts in Biology Aligned with Mechanism of Action 18www.herantis.com Systemic markers Sample typeCells / SourceSystemPathways affectedInterpretationCSFNeuronsProteostasis and oxidative stressProteostasis and redox proteins ↑ Proteostasismodulation and improved oxidative stress defenseCSFImmune and glial cellsInflammationMicroglial polarization ↑↓Neuroinflammation polarized toward resolution and repairNeuroSPARCEVCNS/PeripheralMitochondriaOxidative phosphorylation-related proteins ↓ Improved mitochondrial health results in reduced secretion of mitochondria-derived vesiclesNeuroSPARC EVCNS/PeripheralInnate immunityType I interferon response ↓ Downregulation of innate immune signalingPlasmaPeripheral tissueProteostasisMultipleproteostasissystems↑ Improved cellular proteostasis PlasmaPeripheral tissueVesicle trafficking and autophagyMultivesicularbody, autophagyregulators, ESCRT complex↑Improved function of the endolysosomal pathway, enhanced autophagy/mitophagyWhole bloodPBMCMitochondriamtDNA lesions ↓Improved mitochondrial health results in better mtDNA integrityWhole bloodBlood cellsMitochondriaGlutathione redox balance improvedImproved mitochondrial efficiency reduces oxidative stress Neuronal-enriched plasma EV markers Nervous system markers ProteostasisInflammationMitochondrialfunction& oxidativestressdefense
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HER-096 Administration: Clinical Biomarker Changes Suggest Improved Viability and Reduced StressCoordinated Biological Changes Consistent with Normalization of Maladaptive UPR Signaling 19www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. HER-096 DOSING Baseline in Parkinson’s disease: Maladaptive UPR HER-096 Treatment PROTEOSTASIS MITOCHONDRIALFUNCTIONOXIDATIVE STRESS↓ ↑O2- ↓ PROTEOSTASIS MITOCHONDRIALFUNCTIONOXIDATIVE STRESS↑ ↓O2- ↑
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ClinicalConclusions on Phase 1 Data§HER-096 is safe and well tolerated in healthy subjects and Parkinson’s disease (PD) patients•The Phase 1 studies demonstrated a good safety and tolerability profile of single and repeated doses of HER-096 •All participants finalized the studies without disruptions•The safety labs and brain MRI scans supported that HER-096 is safe and well tolerated•There was no evidence of anti-drug antibody (ADA) formation in subjects who received repeated dosing of HER-096 for 28 days.§Blood-brain barrier penetration was demonstrated in humans: both 200 and 300 mg doses in Parkinson’s patients result in CSF concentrations in the expected pharmacologically active concentration range§Pharmacokinetic data support the intended dose levels and dosing frequency in Phase 2§Exploratory biomarker program provided clear evidence of biological response to HER-096 exposure in humans•Broad biological changes in pathways linked to HER-096 mechanism-of-action –and Parkinson’s pathobiology –were observed and were aligned with preclinical biomarker findings.§All primary, secondary and exploratory biomarker endpoint data strongly support advancing HER-096 into a Phase 2 trial to assess efficacy. www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. 20
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HER-096 Program Is De-risked, Ready and Actionable for Partnering§Completed Phase 1 program with clean safety and tolerability data•No dose-limiting toxicities•Predictable PK, good brain penetration§Human data now exists àmaterially reduces translational risk§Phase 2-ready •Defined biological rationale àbiomarker data supports MoAconfirmation•Clear patient population•Defined dose àlearnings from Phase 1 inform dose & schedule§Not ‘just another CNS asset’ àHER-096 is a well-differentiated asset in the CNS clinical pipeline§Partner value•Portfolio differentiation àwhite space vs crowded modalities•Strong potential for disease modification•Optionality for lifecycle/indication expansion HER-096 Crossed the Most Failure-prone Boundary in CNS Drug Development and Is Phase 2 Ready 21www.herantis.com Phase 1 Phase 2 Phase 3Prasinezumab LRRK2 inhibitors BemdaneprocelAmbroxol AAV2-GDNFBezisterimNLRP3 inhibitors
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Next: Phase 2 Proof-of-Concept Trial§A proof-of-concept study aiming to demonstrate symptomatic improvement •Using a sensitive digital motor score (DMS)•Clinical symptom assessment (MDS-UPDRS Part II & III)•Brain imaging•Selected fluid biomarkers based on Phase 1b data§Sample size: tentatively 80-100 patients (to be confirmed in final power calculation)•A randomized, placebo-controlled study of 6 months, followed by a 6-month open-label extension•Patients with early-stage idiopathic Parkinson’s disease•2 subcutaneous injections per week of a single dose level of HER-096§Multi-center study to be conducted in Europe Phase 2 Tentative Study Design Driven by Digital Biomarkers 22www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved.
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CompanyPartnering / Financing Goal: To Ensure Resources for HER-096 Efficacy Trial 23 §Development plan •Phase 2 tentatively planned to start in 2H 2026 (preferably to be conducted together with a partner)•Explore HER-096 / biology in other indications§We are exploring different options to secure resources for Phase 2 execution•Partnering•Equity financing•Non-dilutive financing§We are investigating different partnering models •Out-licensing to a global or regional partner •Strategic investment for Phase 2 •Research collaboration§Intellectual property status (as of Jan 2026):•Composition-of-matter patent (priority date: Dec 2019) on HER-096 chemical structure (and related structures) granted in China (including Macau) and Indonesia, patent pending in e.g. USA, EPO, Japan etc•Two other patent families around core IP extend protection © 2014-2026 HERANTIS PHARMA Plc. All rights reserved.
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Independent, Competitive Research FundingProvided External Validation and Enabled a Broad Preclinical and Clinical Biomarker Program 24www.herantis.com © 2014-2026 HERANTIS PHARMA Plc. All rights reserved. EuropeanInnovationCouncil 1. Preclinical Biomarker Discovery+Phase 1b Preparations+€15 million investment commitment from EIC Fund (€3.2 million utilized) 2. Phase 1b Study+Clinical Biomarker Discovery
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HER-096 is a potentially game-changing therapy that could become the first disease-modifying treatment for Parkinson’s disease Huge market opportunity: the PD therapeutic market is expected to grow to up to $13bn by 2034, with no disease-modifying therapies currently available and few in development Herantisis backed by 15+ years of research, with robust external validation and funding from the Michael J. Fox Foundation, Parkinson's UK, and the European Innovation Council Broad functionality of HER-096 opens wide therapeutic opportunities into other neurodegenerative disorders and beyond Next steps:•Phase 2 proof-of-concept study in PD•Strategic partnership/ securingresourcesAntti Vuolanto, D.Sc.CEOantti.vuolanto@herantis.com